The following are estimated incurred losses caused by windstorm which occurred December 5, 2004 that Millea Group (Tokio Marine & Nichido) has received as of December 13, 2004:

<Estimated inurred losses on a direct basis>

	Fire, etc.	Auto	Marine	Total
Windstorm	1.07	0.08	0.91	2.07

Notes

The information included in the above table presents the estimated incurred losses under both (a) policies wholly underwritten by Tokio Marine & Nichido or former Tokio Marine or former Nichido Fire and (b) policies led by Tokio Marine & Nichido or former Tokio Marine or former Nichido Fire but partially underwritten by other insurers. Policies partially underwritten by other insurers have been deemed wholly underwritten by Tokio Marine & Nichido or former Tokio Marine or former Nichido Fire for convenience purposes. Additionally, for convenience purposes, estimated incurred losses under policies led by other insurers but partially underwritten by Tokio Marine & Nichido or former Tokio Marine or former Nichido Fire are not included.

The information included in the above table also does not take into account reinsurance purchased or sold by Tokio Marine & Nichido or former Tokio Marine or former Nichido Fire relating to these potential loss events. The amounts indicated do not take into account amounts recoverable by Tokio Marine & Nichido or former Tokio Marine or former Nichido Fire from their reinsurers or increased liabilities Tokio Marine & Nichido or former Tokio Marine or former Nichido Fire may have under reinsurance policies they have underwritten.

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The above preliminary estimates are based on information available to us as of December 13, 2004. These amounts will be subject to adjustment and may materially change based on the results of claims investigations and other factors. Our actual incurred losses as a result of the windstorm may also be materially affected by reinsurance and partial underwriting arrangements.